A mortgage-refinancing boom that helped fuel a surge in bank profits is fizzling，a sign of worsening health for the financial sector and the U.S. economy.
让银行利润大增的抵押贷款再融资潮正在消退，这是金融机构和美国经济健康状况变化的信号。(美国《华尔街日报》)
抵押贷款再融资潮的消退可以从美国银行最新公布的财务报告中找到痕迹。
JPMorgan Chase and Wells Fargo，two of the biggest US banks by assets，kicked off Wall Street’s earnings season on Friday by reporting record profits thanks to cost-cutting and lower provisions for potentially bad loans.
美国两家资产额最大的银行摩根大通和富国银行，上周五以创纪录的利润额启动了华尔街一季度财报的公布。然而，这两家银行的利润大增得益于削减成本及对潜在坏账的较低拨备。(美国《赫芬顿邮报》)
这两家银行利润的增加并非由其核心的抵押贷款业务利润的增加带动，这令人失望。
JPMorgan Chase，based in New York，earned$6.5 billion，or $1.59 a share，for the three-month period that ended March 31，up from $4.9 billion，or $1.19 a share，a year earlier. Analysts had expected $1.39. Revenue fell to $25.8 billion from $26.8 billion a year earlier.
总部在纽约的摩根大通到3月31日为止的第一季度赚了65亿美元，每股利润达到1.59美元，高于一年前的利润49亿美元及每股利润1.19美元。分析员们曾预计其每股利润为1.39美元。但是该行的收入从一年前的268亿美元下跌到258亿美元。(美国《洛杉矶时报》)
摩根大通的净利润大增33%，但总收入却下跌了4%左右。富国银行赚了51.7亿美元，一年前利润为42.5亿美元，增长了22%。但该行收入从216亿美元下跌到213亿美元，也下跌了1.75%。
因此，两家银行都存在同一个问题，即利润总额上升，但总收入下跌。
Mortgage refinancing had been one bright spot in recent quarters. The mortgage-banking operations of U.S. banks and thrifts reported profits of $31.9 billion last year，about six times the amount notched in 2011 and the largest total in at least a decade，according to mortgage tracker Inside Mortgage Finance.
抵押贷款再融资曾经是最近几个季度的亮点。根据跟踪抵押贷款业务的美国房贷金融内参的统计，去年美国银行的抵押贷款银行业务利润达到319亿美元，是2011年的6倍，为至少10年来的最大规模。(美国《华尔街日报》)
现在这一步伐已经开始放慢。美国最大的住房抵押贷款银行富国银行的抵押贷款下跌了2.7%，第二大住房抵押贷款银行摩根大通该业务利润跌掉了31%。
JPMorgan Chase said its investment banking and asset management earnings were up，and its set-asides to cover litigation，much of it stemming from bad loans from the housing bust，were down.
摩根大通称，其投行业务和资产管理收入在上升，该公司对于大部分来自房地产泡沫破裂而引发的官司的拨备在减少。(美国《洛杉矶时报》)
该公司投资银行业务业绩表现出色，同时公司支出下降、信贷资产质量上升。第一财季业绩中计入与信用卡贷款损失拨备下降以及房屋抵押贷款损失拨备下降相关的每股18美分净利得。上年同期业绩则计入与诉讼成本以及该行债务价值变动相关的每股8美分净损失。
Wells Fargo reported its mortgage banking noninterest income totaled $2.79 billion，down 2.6% from a year earlier. Home lending originations were down at $109 billion，compared with $125 billion in the prior quarter. Applications dropped to $140 billion from $152 billion in the prior quarter. The bank reported a net interest margin-the profit margin between lending and investing-of 3.48% versus 3.91% a year earlier and 3.56% in the fourth quarter.But noninterest expense dropped 5.7% to $7.34 billion.
富国银行的抵押贷款非利息收入为27.9亿美元，比一年前下跌2.6%。住房贷款下跌到1090亿美元，前一季度为1250亿美元。贷款申请从前一季度的1520亿美元下跌到1400亿美元。该行的净利差幅度为3.48%，而一年前为3.91%，第四季度为3.56%。但是非利息开支下跌了5.7%，为73.4亿美元。(Fox Business)
在其它银行从抵押贷款业务中撤退之时，富国银行一跃成为抵押贷款业务的领头羊。但该行目前已经连续两个季度住房抵押贷款下跌。在利率非常低的情况下，几乎没有借款人进行再融资。
不过，两家银行CEO均表示，美国房地产市场仍在走向强劲。似乎，他们对房地产业务并未完全失去信心。